How Tally is the Best Accounting Software For Small Business

If a million businesses use Tally there must be something about it to make it their first choice. Tally ERP 9 software is inarguably the market leader in accounting software packages in India and with good reason. It has been around for a couple of decades. The latest version includes everything for manufacturing and for small businesses too. It is easy to learn and even individual entrepreneurs can use it with ease with a few hours of learning. Once you learn a little of Tally there is a lot you can do to keep yourself fully informed of the state of your finances. It takes little effort to configure the package to suit your needs and if you wish you can even opt for Tally customization, especially Tally invoice customization. It makes billing and subsequent accounting easy. 

Small Businesses Need Up To The Minute Accounting

You may have just started your small business or you may be operating a small business. At most, you have a few entries per day. You assume that for the moment you can do it manually and maintain your books on your own. You will find it takes up more of your time and you must put in efforts too. Worse, you do not know the exact position of your finances. This can have adverse consequences because, without knowledge of cash flow, receivables, dues, and profitability you may soon see mounting losses. Switch to Tally ERP 9 software. The impacts of Tally in small businesses is tremendous. Enter only a few vouchers and entries are posted in the right places. Press a button and you get a printed report every day if you like. You know precisely where you stand in relation to your finances. You save time you can devote to more productive purposes. 

Invoicing and GST 

GST has proved to be disruptive and difficult to manage but Tally has built-in calculations. With Tally invoice customization you can set precise columns for quantity, package, weight, numbers, incidental charges and fine-tune GST to claim set off too. Simply enter the item and quantity while preparing the invoice. The packing cost, transport cost or other heads are automatically included if you like or you can do it manually. Once the invoice is prepared it can be printed, converted to PDF and emailed. Invoice customization in Tally lets you design invoices for the service sector, for trading, for manufacturing, and for the dealership. It can accommodate pre-printed forms. 

Entries automatically reflect in other areas such as order section, inventory, and receivables. If goods are returned you can easily reverse the process. Better still, you do not have to sit down and prepare a manual GST return. Tally does it all for you and you stay fully compliant. GST is not the only thing. You can even prepare and file income tax returns and other statutory forms as may be applicable to your business. 

Banking Hassles Are Over 

As any businessman knows bank reconciliations can prove to be a headache. It consumes plenty of time and you have to put in the effort. Manual entries are prone to errors and then you have to spend more time in tracing errors and in rectification. Why not use Tally and see the difference it makes to the banking part of your accounting? You can print cheques, issue post-dated cheques and keep track of credits and debits. With a clear picture of your banking operations, you know your financial status and you can make plans to meet commitments or start reminders to collect outstanding payments.  You could use foreign-made software but those may not work according to the Indian method of double-entry bookkeeping so you do not get a clear picture. Tally follows the Indian accounting system from the ground up and that makes bank reconciliations easy. 

How Well Are You Doing? 

A vegetable vendor may simply count the money at the end of the day and know he is ahead. For businesses it is different. You can use the rule of thumb to know just how much you have sold and what your approximate profit is but are you truly profitable and growing? For that, you will need to generate a profit and loss statement and balance sheet at the end of the week or the month. All incidentals go into these statements and you get a clearer picture of the overall position and you can drill down to details such as salaries, expenses that you can control and overheads. You can get these statements within seconds. Knowing where you stand and what your position is can help you to take timely decisions. 

Any Time And Anywhere Access

Small business owners must keep traveling as part of their operations. If this is the case with you then you will feel frustrated that you are not able to access accounting records while on the go. Tally gives you secure online access wherever you may be. Use your mobile or desktop and you have your accounts right before you. Another feature worth mentioning here is that Tally can import data from other sources and export data too. If you are more used to Excel then it is a trivial enough matter to export data from Tally to Excel. 

Analysis 

It is all very well to be able to print out balance sheets but you have to use your mind to analyze statements such as outstanding, profitability and stock ageing. Let Tally do it for you. Pick your options and get reports that will help you use your mind to take critical decisions. 

Customization 

As stated above customization of the invoice is possible in Tally and you can get Tally experts to do it for you. Further, customization of voucher formats, challans, receipts and production orders is possible and that facilitates printing. You can have Tally solution providers customize fields in Masters and Transactions. You can get the experts to implement more permissions or tighten up security. Then there is the matter of reports. Tally lets you choose from several options when you wish to generate a report. With Tally customization done by Tally service provider, you can customize this aspect and any time you want a report you simply press a few buttons. 

If you run a small business get Tally and then opt for Tally customization by expert Tally solutions providers. It is worth the cost. Smart Sight Innovations provides extreme customization services for Tally at affordable rates.